FET Breaks Bullish: Key Price Levels to Watch As Analysts Eye $0.85 and Beyond

FET breaks a long downtrend, signaling a potential bullish reversal with key resistance levels ahead.

Analysts highlight a possible Elliott Wave structure, targeting a 61.8% Fibonacci extension.

FET's breakout saw a 22% surge, forming higher highs and higher lows, indicating bullish strength.

Fetch.AI (FET) has recently shown strong technical strength following a breakout from a long-standing downtrend. Analysts now observe both bullish continuation potential and key reversal zones for the next price movements.

Breakout Structure Signals Shift in Market Sentiment

FET traded within a descending channel from late 2024 until early April 2025, forming consistent lower highs and lows. This sustained downtrend defined a clear bearish structure over several months. The structure broke when the price surged above the channel’s upper resistance line, signaling a potential trend reversal.

This breakout triggered fresh bullish momentum and drew renewed technical focus Market analyst World Of Charts delivered an in-depth analysis of this structural shift. Following the breakout, he confirms that the price stabilized between $0.42 and $0.47, establishing a clear accumulation range.

Source: World Of Charts

From this consolidation, he draws a connection between increased volume and breakout strength above key resistance. Based on the current structure, he notes that the red zone near $0.42 flipped back into support. By tracking previous resistance levels, he explains that the price now holds above both diagonal and horizontal resistances. Reviewing this chart setup, he finds an upward continuation scenario, projecting resistance at $0.55 to $0.58.

A black curved projection line extends toward $0.85, indicating a bullish trajectory should momentum persist. Following the breakout, he confirms price climbed nearly 22% from its accumulation base near $0.43. In analyzing the trend, he identifies a pattern of higher highs and higher lows forming post-breakout. At this stage of the structure, he comments that the bearish market environment has reversed into a bullish phase.

Impulsive Wave Formation Points to Elliott Structure

Another analyst, More Crypto Online, focused on a possible five-wave Elliott impulse structure forming from April 7th. His insights provide added technical depth by tracking shorter-term patterns and wave behavior on a 1-hour timeframe. He explores a potential corrective wave 2 scenario after a likely wave 1 top completes near $0.588.

Source: More Crypto Online

Market analyst More Crypto Online provided a detailed technical breakdown of this impulsive price movement. Wave (1) began from the April 9 low, marking the initial upward thrust from recent price bottoms. Wave (2) retraced partially before price pushed upward again, forming wave (3) with significant strength. Wave (4) dipped slightly but remained structurally intact, followed by wave (5) completing the full impulse.

From the price reaction, he suggests a Fibonacci target between $0.588 and $0.697 as wave 1’s possible extension. Observing recent price behavior, he explains that wave 2 may form between $0.463 and $0.380. He maps 38.2%, 50%, 61.8%, and 78.6% Fibonacci levels to establish this projected correction zone. With momentum building, he provides further insight into the current price of $0.5589, nearing the 61.8% extension.

After reviewing the latest formation, the analyst points out that a break below $0.496 would indicate weakness. In this pattern, the analyst sees a clean impulsive formation, though confirmation depends on future structure alignment. With the current retest, he observes resistance near $0.634 as crucial for validating or invalidating wave behavior. From these insights, analysts monitor both breakout confirmation and the next corrective phase to determine FET’s direction.